Mirae Asset Global Investments Co. Ltd. Buys 41,033 Shares of Pembina Pipeline Co. (NYSE:PBA)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,284,755 shares of the pipeline company’s stock after buying an additional 41,033 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.23% of Pembina Pipeline worth $40,393,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in Pembina Pipeline by 1.7% during the first quarter. CIBC Asset Management Inc now owns 7,384,434 shares of the pipeline company’s stock valued at $238,976,000 after purchasing an additional 123,855 shares in the last quarter. Gradient Investments LLC lifted its stake in shares of Pembina Pipeline by 40.4% during the 2nd quarter. Gradient Investments LLC now owns 1,725 shares of the pipeline company’s stock valued at $54,000 after buying an additional 496 shares in the last quarter. Guggenheim Capital LLC increased its stake in Pembina Pipeline by 124.4% in the 1st quarter. Guggenheim Capital LLC now owns 21,916 shares of the pipeline company’s stock worth $710,000 after buying an additional 12,148 shares in the last quarter. Barrett & Company Inc. bought a new stake in Pembina Pipeline during the first quarter valued at about $241,000. Finally, Van ECK Associates Corp raised its holdings in Pembina Pipeline by 0.8% during the first quarter. Van ECK Associates Corp now owns 159,587 shares of the pipeline company’s stock valued at $5,170,000 after acquiring an additional 1,291 shares during the period. 53.86% of the stock is currently owned by institutional investors.

Pembina Pipeline Trading Up 2.0 %

Shares of PBA stock opened at $32.43 on Friday. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $36.93. The company has a current ratio of 0.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.74. The stock’s 50-day moving average price is $30.74 and its 200-day moving average price is $30.99. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 5.31 and a beta of 1.27.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.481 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.92 annualized dividend and a dividend yield of 5.93%. Pembina Pipeline’s dividend payout ratio (DPR) is 122.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets decreased their price target on Pembina Pipeline from C$54.00 to C$50.00 in a report on Friday, August 4th. TD Securities decreased their price target on Pembina Pipeline from C$54.00 to C$50.00 in a report on Tuesday, August 8th. Citigroup assumed coverage on Pembina Pipeline in a report on Thursday, October 5th. They set a “neutral” rating on the stock. StockNews.com assumed coverage on Pembina Pipeline in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, TheStreet cut Pembina Pipeline from a “b-” rating to a “c” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.86.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.8 millions of barrels of oil equivalent per day, the ground storage capacity of 11 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.